Allens has advised a syndicate of domestic and international lenders on three concurrent project and acquisition financings supporting the expansion of Atmos Renewables’ renewable energy portfolio across Western Australia, Queensland and Victoria.
The transactions support:
■ Atmos Renewables’ acquisition of a 100% interest in, and the ongoing construction, development and operation of the Parron Maam Marang Wind Farm in Western Australia’s north-eastern wheatbelt
■ the construction, development and operation of the Teebar Battery Energy Storage System in Central Queensland
■ Atmos Renewables’ acquisition of the Hughenden Solar Farm in Central Queensland and the Yatpool Solar Farm in north-west Victoria from BayWa r.e.
Together, the transactions expand Atmos Renewables’ renewable generation and storage portfolio, reflecting the growing role of both generation and firming infrastructure in Australia’s energy transition.
Partner Scott McCoy said: ‘These transactions demonstrate continued institutional support for renewable generation and battery storage projects, which are playing an increasingly important role in Australia’s energy transition. They also highlight the growing importance of firming capacity and grid stability as renewable energy deployment continues to accelerate.’
The transactions reflect strong demand for renewable energy and battery storage financings, as well as the increasing use of portfolio financing structures to fund multiple renewable assets. The broad syndicate of domestic and international banks reflects the depth of lender appetite for investment across renewable generation and storage.
